Juwai.com has launched Juwai IQ a new data service that draws on the online habits and custom surveys of its 2.6 million monthly visitors to provide standard and custom data products to such customers as corporations, banks, property developers, governments and academics.
Juwai.com’s users come from more than 403 cities within China and a further 165 countries around the world. This depth and diversity make Juwai IQ’s data the first and most comprehensive intelligence to track ethnically Chinese consumers at a global level, and to provide insights into subsets of Chinese consumer behavior – based on location, intent, motivation, and budget.
The vast wealth held by ethnic Chinese consumers has made them leading participants in global luxury, education, tourism and real estate markets for much of this decade. Non-mainland Chinese possess an estimated US$2 trillion in assets.i In mainland China, local dollar-millionaires are estimated to hold US$20.3 trillion of assets. Global assets held by mainland Chinese are expected to grow six-fold as China liberalizes its capital controls.
Chinese international property buyers report an average budget for international property of US$2.6 million and are more likely than other Chinese to travel internationally for tourism, luxury goods and medical and other services.
CEO Quotes Andrew Taylor, co-CEO of Juwai.com, said: “For all the excitement about Chinese consumers, precious little data and factual knowledge about their behavior has been available until now. Juwai.com is in a unique position to change that, because of our 2.6 million monthly users from around the world.
“Last year, mainland Chinese buyers invested an estimated US$28.6 billion in American real estate, and that could reach more than US$100 billion per year by 2020.
“You have three overall segments, including mainland Chinese looking at international markets. You also have ethnic Chinese in other countries looking abroad, for instance Chinese consumers in France looking at the US. Finally, you have ethnic Chinese outside of China looking to purchase in their own country of residency, for example living in London and also purchasing in –say- London or Birmingham. It is a very exciting, diverse, and powerful consumer market.”
“Juwai IQ provides the ability to drill down into market segments, uncover what motivates consumers, measure their spending power, and learn how and when to reach them.
“We want to help those who need to work with these consumers to understand how they think, shop, travel, buy and bank.
“You might be surprised that members of the Chinese diaspora are significantly more likely to purchase international property for the purposes of immigration than are mainland Chinese, and less likely to purchase for education. In our survey of more than 30,000 consumers, 54 percent of diaspora Chinese report purchasing for immigration and only 9 percent for education. Among mainland Chinese, 39 percent report purchasing for immigration and 23 percent for education."